Insurers and brokers on standby for Black Friday madness

It’s not just the busiest shopping day of the year – it may also start a bump in claims too
INSURANCE NEWS
By Paul Lucas
25 Nov 2016
Whether or not you’re participating in today’s manic shopping environment, if you’re an insurer or broker you can expect a busy time ahead.

Statistics revealed by Co-op Insurance show that Black Friday is the day clients now find themselves most likely to need to make a claim. That’s because motor incidents increased by nearly a tenth (8.5%) on the day, one year ago.

As the event becomes more popular, so the number of incidents rises – with both collisions and thefts increasing by 8.5% year on year from 2014 to 2015.

“Black Friday sales really kick off the Christmas shopping period, and according to our data leads to not only online traffic but traffic on the roads across the UK,” said Nick Ansley, head of motor insurance at Co-op Insurance.

“Unfortunately we have seen an increase in the number of road incidents occurring on this day so are urging drivers to take care when they head out to the shops in search of bargains. A day of savings could become expensive and upsetting for drivers if they do have a crash.”

However, if you’re an insurer or broker it may still be safe to head to the shops yourself today – because the rush to make claims doesn’t typically happen until the following week. Last year, Black Friday claims were 11% below those on the following Friday, according to the research.
 
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